MoneyLion 101: MoneyLion and Metabank®

MONEYLION 101

MoneyLion 101: MoneyLion and MetaBank®

To build and maintain financial security, it’s important to have a good strong banking relationship. MoneyLion partnered with MetaBank N.A. (Member FDIC) to bring you just that. Read on to learn more about the MoneyLion/MetaBank alliance and how it benefits you and all of MoneyLion’s six million members nationwide.

What bank is MoneyLion affiliated with?

MoneyLion is a cutting-edge fintech company that provides custom financial solutions to its clients. To help ensure safe, secure transactions, we work with intermediaries of all types, including banks, and lending and savings institutions. MetaBank is the key partner in our financial ecosystem.

In 2019, Lincoln Savings Bank (member FDIC) handled the banking functions of RoarMoneySM accounts. Currently, MetaBank N.A. (Member FDIC) serves as the official bank of record for the RoarMoney account. That means that your money is held, secured, and transferred by MetaBank N.A.

Since 1954, MetaBank has provided innovative financial services to customers in underserved markets. They believe in financial inclusion for all and furnish clients with traditional banking services as well as advanced payment systems. MetaBank is a Member of the Federal Deposit Insurance Corporation (FDIC).

The primary goal of MoneyLion is to provide value directly to you, our customer. MetaBank plays a vital role in this, primarily by issuing the signature MoneyLion Debit Mastercard® and RoarMoneySM virtual card. They are also the holder of funds in RoarMoney accounts. As an industry leader in payment processing and Member of the FDIC, MetaBank ensures that your money is safe and ready to use.

For more information on the MoneyLion/MetaBank partnership, check out the What Is MetaBank? article in our Help Center.

Is MetaBank a real bank?

Absolutely! MetaBank is a longstanding, reputable constituent of the US banking community. You may think of banks the traditional way — as brick-and-mortar institutions with a branch on every street corner. That physical presence is why the nation’s big banks — like Chase and Bank of America — remain household names. However, the US has more than 4,500 FDIC-Member institutions, many of which flourish in the online space, as MetaBank does.

In order to operate as a bank in the US, an aspiring entity must be approved or “chartered” by The Office of the Comptroller of the Currency (OCC). Before granting a charter, the OCC determines whether the bank has a “chance of success and will operate in a safe and sound manner.” If the bank gains OCC recognition, it must then secure deposit insurance from the Federal Deposit Insurance Corporation (FDIC). To gain FDIC coverage, the bank must adhere to specific risk, operational, and growth guidelines.

MetaBank is a federally chartered, Member-FDIC lending institution, reachable online at www.metabank.com. The MetaBank-/MoneyLion partnership has been documented by various media outlets including yahoo!finance, Finextra, and Retail Banker International.

Why does my RoarMoney account display as MetaBank?

In certain instances, your RoarMoney account may be listed as MetaBank. Don’t worry, there’s no problem.

Remember, MoneyLion is your service provider and MetaBank is the custodian of your funds. . If you connect your RoarMoney account to a third-party app or e-wallet, MetaBank will display as your official account instead of MoneyLion or RoarMoney. This is completely normal and no cause for alarm.

However, if you have any questions or issues that need immediate attention, you can always contact MoneyLion Support via email (support@moneylion.com) via online chat, on the MoneyLion app, or by phone (888-659-8244). You can access the chat on the home screen of the MoneyLion app or on the bottom right of the MoneyLion web dashboard on your computer.

How does MetaBank work with MoneyLion?

Our partnership with MetaBank is the seamless integration of premium service and advanced payment technology. Proprietary solutions from Meta Payment Systems support the MoneyLion Debit Mastercard® and RoarMoneySM virtual card.. This robust framework allows for smooth, accurate transactions and a multitude of banking options.

Achieve your financial goals with MoneyLion and MetaBank

Here at MoneyLion, we are excited to partner with MetaBank and help you meet your financial goals. If you have a RoarMoney account, the MoneyLion/MetaBank collaboration is a powerful tool for getting the most out of your money.

If you’re working hard to build a rock-solid financial future, then you deserve an amazing team on your side. Together, MoneyLion and MetaBank give you exactly that through a premium service suite backed by industry-leading security and technology.

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